UAE to establish $10 billion investment fund in Turkey

ADEM ALTAN / AFP

The UAE has announced it will establish a US$10 billion investment fund in Turkey.

It will focus on strategic investments, most notably in the logistics sectors, including energy, health and food.

The announcement came following talks between His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Turkish President Recep Tayyip Erdogan.

The initiative is aimed at supporting the Turkish economy and boosting bilateral cooperation between the two countries.

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